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PIRS

Pieris Pharmaceuticals

$4.38

0.1 (2.34%)

, AZN

AstraZeneca

$34.17

-0.65 (-1.87%)

08:33
06/12/17
06/12
08:33
06/12/17
08:33

Pieris announces expiration of HSR waiting period for AstraZeneca collaboration

Pieris Pharmaceuticals (PIRS) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired with respect to its collaboration with AstraZeneca (AZN) to develop and commercialize Anticalin proteins for the treatment of respiratory diseases. The collaboration includes PRS-060, Pieris' Anticalin protein targeting IL-4 receptor alpha as well as four additional therapeutic programs against undisclosed targets. AstraZeneca will make upfront and near-term milestone payments to Pieris in the amount of $57.5M. Pieris retains options to co-develop and co-commercialize PRS-060 and two of the four additional therapeutic programs in the United States. Pieris is eligible to receive development and sales milestone payments not exceeding $2.1B. For co-developed programs, Pieris is also eligible to receive increased royalties or a gross margin share of profits, depending on the level of Pieris' co-development investment.

PIRS

Pieris Pharmaceuticals

$4.38

0.1 (2.34%)

AZN

AstraZeneca

$34.17

-0.65 (-1.87%)

  • 26

    Jun

PIRS Pieris Pharmaceuticals
$4.38

0.1 (2.34%)

05/30/17
05/30/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Ovid Therapeutics (OVID) was initiated with a Buy at Citi and an Outperform at William Blair, JMP Securities, and Cowen. 2. Antero Midstream Partners (AM) was resumed with an Overweight at Morgan Stanley, initiated with an Outperform at Credit Suisse, and reinstated with an Overweight at Barclays. 3. Antero Midstream GP (AMGP) was initiated with an Overweight at Morgan Stanley, JPMorgan, and Barclays, an Outperform at Baird and Credit Suisse, a Market Perform at Wells Fargo, a Strong Buy at Raymond James, a Buy at Goldman Sachs, Ladenburg, and DA Davidson, as well as a Hold at Stifel. 4. Biohaven Pharmaceutical (BHVN) was initiated with an Outperform at William Blair, an Overweight at Piper Jaffray and Barclays, as well as a Buy at Needham. 5. Pieris Pharmaceuticals (PIRS) initiated with a Buy at Rodman & Renshaw. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/30/17
RODM
05/30/17
INITIATION
Target $9
RODM
Buy
Pieris Pharmaceuticals initiated with a Buy at Rodman & Renshaw
Rodman & Renshaw analyst Joseph Pantginis started Pieris Pharmaceuticals with a Buy rating and $9 price target. The company's class of biologics called anticalins have already generated a "broad pipeline and attracted several partnerships," the analyst writes.
05/04/17
OPCO
05/04/17
NO CHANGE
OPCO
Outperform
Oppenheimer stays bullish on PRS-060 after Pieris Pharma, AstraZeneca deal
Oppenheimer analyst Hartaj Singh notes that Pieris Pharmaceuticals (PIRS) announced an "impressive deal" with AstraZeneca (AZN) for its preclinical Anticalin candidate PRS-060 targeting IL-4Ralpha. The analyst is impressed with the size of the upfront payment for a preclinical asset, the choice of AstraZeneca for a partner, and the fact that IL-4Ralpha has become a hot target in light of Regeneron's (REGN) recent approval of Dupixent. Singh has been very positive on PRS-060 previously and stays bullish, reiterating an Outperform rating on Pieris Pharmaceuticals' shares.
08/05/16
ROTH
08/05/16
INITIATION
Target $6
ROTH
Buy
Pieris Pharmaceuticals reinstated with a Buy at Roth Capital
Roth Capital analyst Joseph Pantginis reinstated Pieris Pharmaceuticals with a Buy and $6 price target.
AZN AstraZeneca
$34.17

-0.65 (-1.87%)

06/06/17
WELS
06/06/17
NO CHANGE
WELS
Amazon may be the next threat to drug pricing, says Wells Fargo
After CNBC recently reported that Amazon (AMZN) is considering going into the prescription pharmacy business in the U.S., Wells Fargo surveyed nearly 2,900 U.S. adults and found that 54% of those polled said they would use or would probably use "Amazon Pharmacy." While the e-commerce giant has not confirmed its U.S. pharmacy interest, if it did enter the market analyst David Maris believes it could see fast adoption and "usher in a new age of price transparency." Maris also wonders if pharmacy "may be just the beginning" and if Amazon eyes the "even larger prize" of fully integrated digital healthcare. Publicly traded large-cap pharmaceuticals companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded retail pharmacy operators include CVS Health (CVS), Walgreens (WBA), Fred's (FRED) and Rite Aid (RAD).
06/05/17
PIPR
06/05/17
NO CHANGE
PIPR
Piper views AstraZeneca, J&J as ASCO standouts
The standouts at ASCO over the weekend were the "compelling results" presented on Johnson & Johnson's (JNJ) Zytiga from the Latitude study in prostate cancer and AstraZeneca's (AZN) Lynparza in the OlympiAD trial in BRCA mutant breast cancer, Piper Jaffray analyst Richard Purkiss tells investors in a research note. In lung cancer, Merck's (MRK) updated data in KN021G "appears more promising" than Bristol-Myers' (BMY) updated data in CM012, the analyst adds. Purkiss believes, however, that relative to recent ASCOs, the data "so far in totality is underwhelming."
06/01/17
RHCO
06/01/17
NO CHANGE
RHCO
SunTrust sees $240/share takeout price for Tesaro
After the Wall Street Journal reported yesterday that Tesaro (TSRO) is exploring a sale, albeit with "modest" interest, SunTrust analyst Peter Lawson says his analysis suggests a $240 per share takeout price for the company. Tesaro closed yesterday up $5.88, or 4%, to $149.31. Acquisitions in the PARP inhibitor space are more likely to happen after Clovis Oncology's (CLVS) ARIEL 3 data at the end of June, as the readout will provide a more apples-to-apples comparison to Tesaro and AstraZeneca (AZN), Lawson tells investors in a research note. His "bull case" points to a $286 per share price for Tesaro and $92 per share price for Clovis. Lawson has Buy ratings on both names. JPMorgan's Cory Kasimov this morning said he likes the setup for Clovis shares into the late June data announcement.
05/17/17
JPMS
05/17/17
UPGRADE
Target $72
JPMS
Overweight
Clovis upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Cory Kasimov upgraded Clovis Oncology (CLVS) to Overweight and raised his price target for the shares to $72 from $58. The stock closed yesterday up 2%, or $1.05, to $49.56. The shares are down 35% over the last two months for "no clear fundamental reason," Kasimov tells investors in a research note. The analyst is "increasingly comfortable" recommending Clovis ahead of its Phase 3 study evaluating Rubraca in maintenance ovarian cancer now that more PARP class data has emerged. He has not seen "convincing evidence" that there is a clear efficacy difference between Clovis' rucaparib, Tesaro's (TSRO) niraparib and AstraZeneca's (AZN) olaparib.

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